1. General: Indication of willingness to buy or sell goods or services or to undertake a task, at a specific price and within a specific timeframe.
2. Contracting: Complete proposal (submitted in competition with other bidders) to execute specified job(s) within prescribed time, and not exceeding a proposed amount (that usually includes labor, equipment, and materials). The bid-receiving party may reject the bid, make a counter offer, or turn it into a binding contract by accepting it. See also offer and proposal.
3. Financial markets: Highest price at which prospective buyers are willing to buy commodities, foreign exchange, or securities.
Use 'bid' in a Sentence
Always make your opening bid either high or low, and then slowly creep back into a middle ground to get the best price.
The man believed that his favorite sports team was the best, so he put a bid in because he thought it would be an easy and fun way to make some extra money.
The man put an acceptable bid on the prize so we will have to wait to see if others bid as well.
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